Econintersect‘s analysis of final business sales data (retail plus wholesale plus manufacturing) shows a slowing in the rate of growth. Inventory levels are very high and do not correlate to times of economic expansion.
Analyst Opinion of Business Sales and Inventories
Inventories remain elevated this month. Our primary monitoring tool – the 3 month rolling averages for sales – significantly declined this month but remains in expansion. As the monthly data has significant variation, the 3 month averages are the way to view this series. Overall business sales are improving since the low point in 2015 – but the trend in the last 6 months has been declining.
US Census Headlines:
The way data is released, differences between the business releases pumped out by the U.S. Census Bureau are not easy to understand with a quick reading. The entire story does not come together until the Business Sales Report (this report) comes out. At this point, a coherent and complete business contribution to the economy can be understood.